Ferrero is close to buying Nestle’s US candy bar business

Dec 22, 2017 1198

BY: Josh Kosman

An Italian confectioner is close to scooping up Nestle’s US candy bar business, The Post has learned. Ferrero Group — which makes Nutella as wells as the Ferrero Roche chocolate-and-hazelnut bon-bons — is poised to shell out as much as $2 billion to win an auction of Nestle brands including Crunch, Butterfinger and Kit Kat, sources said.

That’s on the heels of Ferrero inking a $1.25 billion buyout earlier this month of Ferrara Candy, which makes Red Hots, Now and Later, Jujyfruits and Super Bubble. If Ferrero buys the Nestle business, it will become the third biggest US confectionery business trailing only Hershey and Mars.

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SOURCE: https://nypost.com/

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